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Left Bank has a standing rate of 8.4 %8.4% ?(APR) for all bank loans and requires monthly payments. What is the monthly payment if a

Left Bank has a standing rate of

8.4 %8.4%

?(APR) for all bank loans and requires monthly payments. What is the monthly payment if a loan is for

?(a?)

$ 115 comma 000$115,000

for

66

?years,

?(b?)

$ 270 comma 000$270,000

for

1212

?years, or

?(c?)

$ 1 comma 130 comma 000$1,130,000

for

2323

?years? What is the effective annual rate of each of these? loans?

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